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FOX Business
Dec 29, 2012 12:00am EST
. president obama and congressional leaders try to pull off a fiscal cliff hail mary. their last-ditch meeting at the white house desperately tries to land a deal but the report he hadly not putting any new offer on the table. we have the very latest for you. >>> not even the fiscal cliff can slow down the u.s. oil boom the production surge sets up huge windfalls for businesses outside the oil industry in 2013. who stand to reap the biggest gains? we'll drill down details so you can get in on this game. >>> iran launches war games in the strait of hormuz flexing its military muscle in the heart of the critical seaway for global oil supplies. is iran just sabre-rattling or gearing up for something much bigger? even when they say it's not, it is always about money. adam: and a good evening to you. melissa francis will be back after the first of the year but right now let's look at today's market headlines of the investors were largely gripped by unfolding events in washington regarding the fiscal cliff. there was little optimism on wall street. stocks fell for their fifth straight session. the dow, the dow fell below the 13,000 mark closing down 158 points. fiscal cliff anxiety sent the so-calle
FOX Business
Dec 30, 2012 9:00pm EST
cliff. news about the secretary of state, she in the hospital tonight. can you update us on her condition. >> this is statement from secretary of state spokesperson, hillary clinton is in the hospital after doctors discovered a blood clot stemming from a concussion she sustained several weeks ago. her doctors will continue to assess the situation in the next 48 hours and see if any further action needs to be taken. >> reporter: okay, rich. fox business network here all night. we'll be monitoring potential of a deal and also watching some of the asian markets, hong kong just now beginning to trade. we'll update you at the 10:00 p.m. hour. we want to remind you at 5:00 a.m., sheryl will be here to start the trading day for that. with the opening bell at 9:30 here at new york. if there is a deal we'll have it for you if it happens during our break at the top of the hour but at 5:00 a.m., as well. we'll return to our programming now. hand. it is a time consuming labor which they have to do for hours every week. they want the washing mhine. they don't want to spend such a large part
FOX Business
Jan 1, 2013 12:00am EST
crowd getting ready to jump off the fiscal cliff and welcome 2013. >> five, four, three, two, one! ♪ adam: and a happy new year, everybody. 2013, and that sound you hear is your taxes going up. rich edson, minimum for most americans taxes will go up a minimum $1000 depending on how much you make, correct? >> that is right. depending on whether or not the senate and the house can pass this deal is leadership has agreed to. what you have got now are essentially broad-based tax hikes. the questions we're getting over the fiscal cliff, technically we are in this gray area riggt now where administratively puts things off because we do have an agreement on legislation. still has to go through the house and the senate at this point, but technically speaking here we are over the fiscal cliff. adam: $620 billion in new tax hikes, this will not taste good later this morning republicans in the house. we'll have to consider this next. rich: he still has to sell this thing. the publicans in the house if they don't come along on this thing, they will be the ones who have gone back on a deal. approval for the senate minority
FOX Business
Dec 31, 2012 6:00pm EST
. there is no more time. we are of the fiscal cliff. tonight we will all begin the larger set of tax increases in american history. that is new year's to you from our elected officials. did i also mentioned you are getting a pay raise in the new year as well. all this could have been avoided if congress got its act together, but the doomsday option hit and the president set in motion. there is a chance of some sort of deal, but we have to wait until the new year. let's go directly to washington senior washington correspondent, peter barnes, with details of negotiations. >> reporter: still some pieces being negotiated tonight, particularly on the sequestration, those automatic spending cuts that are supposed to take effect on january 2nd. about $100 billion. about half of that on the past -- defense department. still trying to work through the details of some democratic and republican side. it's unclear if there will actually get to a vote in the senate on that tonight, but they could if they work something out. otherwise we have the framework from sources familiar with these negotiations. here are some of the things that are on it.
FOX Business
Dec 27, 2012 6:00pm EST
"the new york post," pretty amusing. off the fiscal cliff, this is really going to hurt. i think everybody can relate to that one. for taxpayers, $500 billion increase in taxes. how will that hit people, how meaningful is it going to be, will they see the results in their first paychecks? >> for sure the higher taxes that came with health care reform. 8% on the income, 9% of payroll, every american 2.2% on every medical device except my glasses, contacts hearing aids. those are happen. payroll tax will go away almost certainly. your payroll tax is almost smaller. gerri: your first paycheck will be smaller in the new year, right? >> no question. it will try to avoid the first paycheck, and for the bush tax cuts, but there's no guarantee they can keep i that up for very long. this is a story where the checks get smaller and the economy is weaker very quickly. gerri: let's talk about entitlement programs and the impact on them. social security will have a deficit this year of $6 billion yet again. can't keep up with social security. what is the longer-term impact of what is going on
FOX Business
Dec 27, 2012 9:20am EST
republicans for no deal on the fiscal cliff. a news alert for you now. a new number from apple today showing exactly what tim cook made this year. he brought in $4.17 million that includes his base pay and incentives and that is down 99% from the $370 million team made last year. apple chief didn't get any stock awards this year, apple languishing above $500 a share. please check out this video, a real life iron man, and exoskeleton that gives that person, paralyzed people the ability to walk. a lot is banked on military research. dr. mark siegel is here with the story. i want to see if i have got this right. >> you always have it right. stuart: an exoskeleton is essentially a robot. a paralyzed person wears this robot, there's a backpack of some sort. >> not exactly. this is a big game change iran's big business. these things are running between one hundred and 1 forty thousand dollars. there are 30 run the country, 30 centers run the country and within a year or two they are going to be in the home and that is going to be huge. they allow a paralyzed person to walk again. is a robo
FOX Business
Dec 26, 2012 4:00pm EST
, all about the debt ceiling. we have been focusing on the fiscal cliff, there is the debt ceiling limit. peter barnes with the very latest on this. >> all tied up together. secretary geithner warning it could hit the $16.4 trillion debt ceiling on december 31. on monday, new year's eve. but it can use some extraordinary measures with public finances to create $200 billion of additional headroom in the debt ceiling to push out hitting the borrowing limit for about two more months or so to around the end of february. she later released by the treasury, symmetry rights under normal circumstance that amount of headroom would last approximately two months. whoever given the significant uncertainty that now exists with regard to unresolved taxes and spending policies for 2013 it is not possible to predict the effective duration of these methods. these moves were expected by the treasury in the battle over the fiscal cliff remains unresolved. during the debt ceiling fight the steps include the sales of special government bonds the treasury issues to help state and local governments to manage their cash flow. it also caps spending retirement benefits, all this coming as the senate reconvene tomorrow and folks waiting for the senate to make the next move in this standoff
FOX Business
Dec 30, 2012 8:00pm EST
anything with to do with fiscal cliff but there is news on hillary clinton? >> doctors have discovered a blood clot stemming from a concussion she sustained several weeks ago they are monitoring the medication they are over the next couple of days. >> i guess she won't be testifying in front of any senate committees. rich, live for us. we'll check in with you at 9:00 p.m. and update you on behind the scene negotiations. we're going to update how asian markets are trading with no deal here in the united states. so until 9:00 p.m. have a great day. you'd you would think that you'd want to havewa assets available within a certain distance of, bt places. but there is no sign anywhere that we would ask any help fromo neighboring countries, anyone else in the vicinity to help us at thattime. have puthese people in this situation ,-com,-com ma they have failed to connect the dots and failed to anticipate what was happening and once th attack began, there was something they could do immediately, but have they responded immediately, might have prented the deatthat occurred seven hour
FOX Business
Dec 27, 2012 1:00pm EST
thought you were debbie downer. the new year's resolution is not to go for the fiscal cliff. lori: i will just keep saying and be done. tracy: president obama and the senate back in office, senator harry reid is the latest to say it looks like we are headed to tumble over the cliff. let's check with rich edson with the latest. >> tracy will have to come up with a new term. we will be saying this afternoon years. democrats and republicans deck at each other saying it is your turn to make a move, up to you to move next, no movement on capitol hill, and there was speculation the white house would send a proposal to capitol hill and that has been denied by an aide to the senate majority leader, harry reid taking to the senate floor saying he thinks it looks like we are headed over the fiscal cliff and he hang that on the house. >> if we go over the cliff and it looks like that is where we are headed the house of representatives, with four days left after the first of the year, are not here with the speaker having told them give them 48 hours notice. i can imagine their consciences, out w
FOX Business
Dec 26, 2012 11:00am EST
over what we all like to call the fiscal cliff. then again, it could be that. dagen: thank you for that. starbucks has a new message for lawmakers and all those congressmen have to do is read what is written on their morning cup of joe. it is already too late for the pentagon. defense cuts are coming in a big way. a look at world currencies and how they are holding up against the dollar. ♪ [ malennouncer ] it's tt me of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. starsaving at citi.com/pricerewind. dagen: more good news for recovering the housing market. home prices in the 20 city index grew 4.3% from a year ago. chicago, new york were the only two cities with negative returns and october. starbucks urging washington to come tog
FOX Business
Dec 31, 2012 9:00pm EST
are going of the fiscal cliff. joining me now, former adviser to president george w. bush and doug shown, democratic strategist and fox news contributor. welcome to you both. >> thank you so much. gerri: am i surprised by what is happenin no. and my interest? no. and so of start with you. how would you grade the president's lead on this issue today? >> well, i'm not trying to give anyone a good mark, the president by and certainly not congress. i hope my colleag in the spirit of the new year would recognizthat the entire political establishment has let us down. we are going to get at best that deal on taxes, not going to get anything to reform entitlements or spending. in my question to you, do you think republicans in the house should vote for this deal? gerri: wait a minute. before you go to that i want to mention, we ould acknowledge your that there is still a possibility the senate will vot on these ideas that we have described ad nauseam today about extending tax cuts for single ardors of 400,000 less couples, families of 450,000 less, that could be voted on in the senate tonight. a couple of senators have said it could happen. a
FOX Business
Dec 26, 2012 1:00pm EST
fiscal cliff. we go to the nation's capital after break. let's take a look at how the dollar is faring against foreign currencies as we head to break. ♪ with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity option.. evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. lori: the senate returns to washington tomorrow. with just five days to address the dreaded fiscal cliff. peter barnes is live in d.c. with the very latest. peter: everyone looking to leader harry reid and the president for plan c. they were discussing next steps to advert the cliff before the holiday on monday. no update today from the white house. a spokesperson for senator reid is saying "nothing to report. no conversations with republicans let." the spokesperson says "no outreach from any democrats. we are waiting on senate democrats." it looks right now
FOX Business
Dec 28, 2012 4:00pm EST
the fiscal cliff, but there's continued concern here on the trading floor, and the minute we saw president obama was not presenting a new plan, we took out the lows of the day. important to point out in the final few minutes. david: a great point because it's been misreported in a lot of places that the president has a new plan. it's not a new plan, he mentioned the $400,000 thing like it's a new thing. it's not at all. he mentioned that a few weeks ago. what would happen if there is a conclusion over the weekend, sandy? a drop in the price of oil? >> well, the traders i talked to on the floor say that those who think we are going to get some sort of deal or conclusion to this fiscal cliff by the end of the year think it's going to be a bad deal so while some are saying that we could get a rally if there's a deal reached by the president and congress, we could get a quick ramly, it's only temporary and we face the reality of the situation in the new year, and bottom line, david, when we looked at the oil reports today, there is a significant decline in energy consumption in the united states right now, and while that might b
FOX Business
Dec 28, 2012 9:00pm EST
will be a big pill to swallow. this is a fiscal cliff that we can have 50 days, 60 days down the road. it does not fix the problem if you will have these taxes on $250,000 and above. as rich edson said, this is going to be another deadline in congress has to have. i think everyone needs to get comfortable with the fact that we are going to have these kinds of stopgap last-second deals. gerri: okay, let's get tyler in here too, are republican strategist. is there any common ground can be found here? i mean, this seems to me like a last-ditch effort. let me tell you what it when it was announced today that there was going to be a meeting at 3:00 o'clock from expectations went through the roof. i think people thought something really big was gng to happen at the end of the day. the president is saying that he is modestly optimistic. maybe you would be something by december 31. what do you make of it? >> he is modestly optimistic about no new changes here. you know, the country needs a leader. no matter what party you are from, that is what we need. that's what we need in the preside
FOX Business
Dec 31, 2012 11:00am EST
much. happy new year. oil and gold in the green as the fiscal cliff talks continue. sandra smith has more on today's. sandra: let's start out by looking at a gold chart. we are up about seven dollars. however, i want to remind all the viewers out there that this would still be on pace for a 2 straight annual gain. it has gone up 12 years in a row. oil up $0.36 at 9116 a barrel. still well above $90. the oil market would signify that traders here, at least on the floor, police that there may be a deal by the end of the day. >> i kind of disagree with that. this. the crude oil market has to be taken on its own. i will not say that the fiscal cliff will dictate which direction prices will go. look at demand numbers for what we are using globally. they have been very positive. sandra: we will have to leave it there. give me your best guess at what happens at the end of the day. >> push as much of it as they can down the road. it is a shame that we do not have a functioning bond market. sandra: we will be talking to traders down here on the floor all day. we are approaching the final hour
FOX Business
Dec 28, 2012 11:00am EST
the new year to avoid some of the tax parts of the fiscal cliff and the deal with some of the unemployment issues. >> now, that deal, the small deal that the congressman is talking about, speculation perhaps that includes a tax rate tax increase for families earning $500,000 a year, mid way point almost between what democrats and republicans had in the opening offer. perhaps up employment extension and other spending to get through the new year, and congress can, yes, kick the can to next year and figure it out, maybe, next year. back to you. dagen: maybe. rich, thank you so much. great to see you. bringing in former democratic senator of north dakota, in washington, d.c.. senator, great to see you. >> good to be here. dagen: this meeting posturing or progress. what say you? >> well, i mean, there needs to be a meeting and pleased the president called one. i sat in meetings like that with republican and democratic presidents at the white house at times like this, but the fact is i think all of the sides here have had a lost opportunity. implication of the cliff was to create a
FOX Business
Dec 28, 2012 3:00pm EST
>> it is time to roll up the sleeves and get down to business on the fiscal cliff. democrats and republicans have made the trip to the white house. i'm ashley webster,. it is the last hour of trading, and count down to the closing bell starts now. we have breaking news from washington. rich edson at the white house where president obama is about to meet with key members of congress, and, rich, there's talk of a scaled down deal put forth by the president. what have you heard? >> it that is the discussion. you have harry reid, mitch mcconnell arriving at the white house, should have house leadership shortly to begin a meeting, a last ditch effort to try to help the economy avoid the fiscal cliff, or at least pieces of it, and, yes, the buzz around washington is a possible path forward that aids describe as preventing tax increase for income amounts of $400,000 or $500,000 or so, extend unemployment insurance, but, still, nothing has been agreed to. all in washington are waiting to see how this meeting goes. it's just about to start here in dc. meanwhile, on capital hill, the fighting continues, and in some corners, a sense of pessimism. >> if we don't have a deal within the next 24 hours, the question is where do you buy a parachute? we'll be going over t
FOX Business
Dec 31, 2012 11:00pm EST
deal averting the fiscal cliff figuratively. we will go off the cliff of the nation because taxes will go up on january 1, spending cuts will essentially be ready to go into place january 1 but just the senate passed the deal and sent to the house and they passed it, this can be averted. my colleague rich edson live on capitol hill to explain why although there could be a vote tonight, this is far from a done deal. rich: absolutely. vice president joe biden who has been trying to influence senate democrats, many of them skeptical to support this deal he is negotiate with senate minority leader mitch mcconnell. they want this to be much lower rate is placed on the deal for individuals, $430,000 for married couples. what we're hearing now is the drafting is ongoing, national budget office is taking a look k at this to see exactly how much it is going to cost but as it is known with the impact of the deficit going to be, senator joe lieberman said a short while ago they will try to vote on this thing at some point this evening as we get closer, adam, less than an hour to go in the ye
FOX Business
Dec 26, 2012 5:00pm EST
to fly back to washington in the next few hours to try to scrape out a fiscal cliff deal but hope is fading fast. if that weren't bad enough, the treasury now says the u.s. will hit the debt ceiling on new year's eve. will this be a game-changer for reaching a deal? >>> plus as if the fiscal cliff wasn't bad enough, now critical ports across the u.s. could be brought to a standstill starting this weekend. we'll explain how a looming union worker strike could sink businesses across the united states. >>> the major sports leagues do a touchdown dance after a federal judge's ruling. their lawsuit to spike sports gambling in new jersey get as crucial green light but new jersey isn't taking it sitting down. details how that state is fighting back and preparing to give vegas a run for its money. even when they say it's not, it's always about money adam: thank you for joining us. we want to look first at the day's market headlines. stocks slid for the 30 straight session. mediocre holiday seas and deadlock over fiscal cliff gave investors little to get excited about. the dow fell 24 points. the so-called fear index or the vix, soaring more than 4%. fiscal cliff concerns pushed the index to the highes
FOX Business
Dec 23, 2012 11:00pm EST
, justin days from the largest tax hike in american history was no movement toward a fiscal cliff deal more in the action in the house or senate. the responsibility now to avoid massive taxes and draconian spending cuts resting squarely on the president. fox news chief white house correspondent ed henry with our report. >> just as our economy is really starting to recover and starting to see optimistic signs and we have seen actually some upside to from a whole range of areas, including two from including housing, now is not the time for more self-inflicted wounds , seven not the estimate from washington. lou: president obama's top advisers were quick to dump on the speaker come -- declaring he is backed into a corner. >> they went from plan b to plan seal later. the fact that they could not even plan -- pass that was an embarrassment. >> in private the president's advisers admit they are bit more apprehensive firmly believing mr. obama has the upper end of the public. if the market takes the hit to the commander-in-chief we will still face his share of heat for washington this function to may point republicans are hammering. >> the u.s. economy is estate here. millions of families are counting on us to do something. look. it is the president's job,
FOX Business
Dec 23, 2012 8:00pm EST
the fiscal cliff. president obama headed to value within actually minutes, and members of congress have also gone home for chrrstmas vacation already. in a news conference today, speaker boehner admitted negotiations with the president have, indeed, been difficult. >> until the president on monday, these are my bottom lines. the president told me that his numbs, $1 trillion in new revenues, 850 billion in spending cuts was his bottom-line. he could not go any further. lou: and he didn't. the plan be option collapsing last night when he failed to get republican support to raise taxes on only those making more than a million dollars a year. over in the senate majority leader harry reid pounced on the very public embarrassing defeat. >> we knew the so-called plan b was no plan at all. it could not pass the senate. it turns out, it could not pass the house either. it is too bad speaker boehner wasted a week in his political stunt. lou: if there is no agreement, taxes will go up on all american taxpayers and hundreds of billions of dollars in automatic government spending cuts will kick in. potentially plunging the economy back into recession. after the boeh
FOX Business
Dec 31, 2012 10:00pm EST
the latest from capitol hill as well as new york city on negotiations to avert the fiscal cliff. a live picture from times square because in an hour and a half we will celebrate the new year and the million people gathered in times square will be celebrating, but they may want to eat, drink and the merry for tomorrow. as i go live to rich edson on capitol hill, taxes at this point will go up for every american. there is no deal being voted upon as of yet. not only will taxes go up, but spending cuts will begin starting at midnight tonight. rich edson, have we heard from the vice presidents yet? rich: he is still meeting an hour and 15 minutes after that meeting began to address senate democrats to sell them on this deal they have negotiated with mitch mcconnell. to avoid at least a large chunk of the automatic tax increases that are supposed to take effect shielding american, mounds of $450,000 for families, $400,000 for individuals keeping capital gains and dividend rates where they are pleasing amount of money going up to 20% on amounts of more than $450,000 for a family. at this point there are concerns among liberal democratic senate. there have been problems througho
FOX Business
Dec 31, 2012 9:20am EST
for any news on fiscal cliff developments. we'll keep you up-to-date. venezuela's president, hugo chavez is suffering new complications from a respiratory infection that just three weeks after undergoing surgery for cancer in cuba. chavez has not been seen or heard from since his fourth cancer related surgery which took place earlier this month. government officials say chavez might not return in time for the inauguration of his new six-year term on january the 10th. okay. check the price of oil, they're not related. the situation concerning hugo chavez is not related to the overall price of oil which this morning is at $90 a barrel, it's down 28 cents. now, one of the bright spots in this economy is the housing market. there has been a modest recovery in prices and the number of homes sold. however, if we go over the fiscal cliff, or if we completely fail to reach a broad ranging agreement, this is what our guest from forbes magazine, morgan brennan, said would happen to the housing market, again, if we go over the cliff. listen to this. >> i do think that will create a prolonged bounce along the bottom. i think we c
FOX Business
Dec 26, 2012 6:00pm EST
use a ranch house. that would be nice. coming up, forget the fiscal cliff. a slew of new taxes coming your way in less than week. something congress and the president talked about years ago. i will break it down ask. [ male announcer ] this is the age of knowing what you're made of. why let erectile dysfunction get in your way? talk to your doctor about viagra. ask if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away if you experience a sudden decrease or loss in vision or hearing. this is the age of taking action. viagra. talk to your doctor. this is the age of taking action. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the sce
FOX Business
Dec 27, 2012 4:00pm EST
around surrounding fiscal cliff talks and the clouds overhead, wouldn't it be nice to take a vacation, even better, one that's priced well, a bargain. coming up travelocity senior editor lets us in on deals for new year's eve and what's going to be hot for 2013. looking forward to that. david: we just found out we will probably be working on new year's eve and so are the people in the white house. the president is back there, trading the heat of the sun in hawaii going to the heat in washington. steve forbes will be coming up later in the hour. shibani: we will tell you what drove the markets today with today's data down load. stocks gaining momentum in the last hour of trading crawling back from triple digit losses down about 150 points following reports that the house will return to washington on sunday, but that late rally wasn't enough to lift stocks into positive territory, with all three major indices closing lower for the fourth day in a row. materials, financials, amongst the day's top worst performing sectors i should say. new home sales surging to strongest level in more than two years. sales jumping 4.4% from october to an annual rate of 377,000, more good signs that that housing sector much
FOX Business
Dec 27, 2012 3:00pm EST
talks and looks like the u.s. is heading for the so-called fiscal cliff. he compared it to the ball dropping on new year's eve dropping on times square more ominously. more from the nation's capitol. in terms of industry groups and what is not working we start with financials. they're the biggest drag. money center banks like bank of america down 1 1/4%. goldman down 1%. morgan stanley down .8 of a percent. all those stocks are under pressure. tech stocks notably weak. apple inching to the round 500 dollar level. down to 510. it was north of 700 when iphone 5 came out early september. so the bear market continues to apple. as you can see, google also down, down about five bucks on the day. ibm down slightly a .10 or two. hewlett-packard off today, down one 3/4%. coming up later we have a contrarian investors sees big opportunity for hp in 2013. he nailed down the move in bank of america this year. he said it was the stock to buy. he was right. stick around for what he has to say about hewlett-packard. interesting stuff. what an interesting day. let's look to the floor show. traders at new york stock excha
FOX Business
Jan 1, 2013 5:00pm EST
fiscal cliff deadline and into new year's day. still lots of to be worked out. a lot of uncertainty, diane. >> less ttan 24 hours before the markets open and still no deal. rich, we appreciate you keeping track of this. especially with the meeting coming up at 5:15. thanks so much. >> thanks, diane. >> that is the latest everybody, on the negotiations with washington. we'll be back at top of the hour or we'll break in anytime we get more news. fox business will be live tomorrow morning 5:00 a.m. for special coverage as markets react to all of this. i'm diane macedo. we'll return now to our regular programing. >> this has been a fox business special report. we now return you to your regularly scheduled programing. >> the ceo and the senior management with the interest of the shareholder and i don't think anybody objects to paying ceos or coos a good dollars if the company is successful. what they object to is sweetheart packages, if the company doesn't do well and the senior management still does well. and that doesn't happen at kinder morgan. melissa: pretty refreshing to hear that
FOX Business
Dec 26, 2012 9:00pm EST
. this year. i could use a ranch house. that would be nice. coming up, forget the fiscal cliff. a slew of new taxes coming your way in less than week. something congress and the president talked about years ago. i will break it down ask. so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, m good. you got it? yes. rates for us and them -- now that's progressive. call or click today. gerri: it will be a new year pretty soon. we will get new taxes. not just for wealthy americans either. millions of americans will face obamacare tax hikes in 2013. especially the middle class. it will likely affect the way you receive care in the way you buy health care. care to explain is doctor mitchell brooks. doctor, welcome back to the show. it's always good to have you here. you say that it's really a three card monte. that is what the american public is getting t
FOX Business
Dec 28, 2012 9:20am EST
president. yes, the fiscal cliff is the news background to today's trading. hopes of any kind of deal really are slipping away. i'm not going to say it's not going to happen, but the chances of a deal are slipping away. that is going to affect the early trading today. dow jones industrial average has opened lower, it's going to go down roughly 60 points. if you look at the futures market as a indicator for the current market we should be down about 60 by the time we open up. and barnes & noble, a big mover today and i want to go to lauren, how far up or down. >> it's up 2.3%, stuart. i went over to the booth where it trades, the traders say really heavy volume for in time of morning in the premarket on the stocks. barnes & noble very smart today. the good news up 11% and making a educational investment and putting 90 million into the nook media, which is kind of part of barnes & noble's business, but then put out the bad news, barnes & noble and their holiday sales will come in below expectations and their nook business would not meet their prior production for the full year, 2013. so
FOX Business
Dec 31, 2012 1:00pm EST
year. i am shibani joshi. ashley: and i and ashley webster. fiscal cliff talks are stalling. tax hikes and spending cuts. president obama said to speak in about 30 minutes from now. shibani: stocks are holding their ground. waiting for some sort of news out of washington. the dow sitting at session highs. at least we are closing. ashley: it changes with every headline. the world ringing in the new year. new zealand, australia, japan, china, we will get a sneak preview of celebrations being planned as times square gets prepared for 1 million visitors. it is a complete nightmare. [ laughter ] ashley: time now for stocks now as we do every 15 minutes. we are up 51 points. not too bad on this last trading day of the year. >> that is right. the dow has been pretty flat. going back and forth between the red and green. the nasdaq is up 30. same goes for the s&p stock of about nine points. we are also watching a settlement between u.s. regulators and about a dozen banks. sources tell the "new york times" that 14 banks include tank of america, wells fargo and jpmorgan chase. we are taking a look at those stocks. back to you. ashley: diane, thank you very much. well, the question is, is the unthinkable about to become reality for back now, it is u
FOX Business
Dec 26, 2012 3:00pm EST
, "fc," fiscal cliff, and pulling from the u.s. dollar, the yen is pulling back, the new regem that's in there, they are doing what they need to do, and nobody's going to gold right now. silver is sneaking up slowly, above the $30 range. we'll see that take off. reason for that is we look at china. china's economy is turning the corner. that's also helping with what you folks talked about earlier in the crude oil. see how it plays out. even though it's a light volume week as far as trading -- ashley: still, though, a downward trend with the chart. what's the story with silver? >> well, you saw silver pull back with gold. normally, they run, and now what we're seeing is there's a little bit more demand. china's picking up the pace a little. we are seeing silver that's up, what, 24 cents as of today? not a bad move from a one day, especially in the light volume. ashley: if we get it done on the fiscal cliff, will we see a selloff in metals? >> i don't believe that we will. europe right now is the safe haven. there's no negative news. by any means, they are not done with all that'
FOX Business
Dec 27, 2012 11:00am EST
sort of deal on the fiscal cliff. we are also getting late word that senate majority leader harry reid will hold a news conference at 3:00 p.m. eastern time. this all comes on the heels that senator reid may be said we are going over the fiscal cliff. stocks now every 15 minutes. the "wall street journal" out with some retailers to watch in 2013. nicole: let's start off with harry reid's comments that we may go over the fiscal cliff. as a result, we are seeing a lot of down arrows. there is a market that started off in the green and then read. that is the action that we are seeing. getting to the retailers, there are a lot of retailers that have had a lot of headlines and in many cases have been struggling. jcpenney would be one of them. down nearly 5% on the day. they have been a big loser. you had ron johnson come over from apple. the "wall street journal" talked about a few retailers. four of them, to be exact. including best buy. that would be another one. radioshack. and also sears. these are the four names we have been watching very closely. a lot of these names are significantly lower. do or die in 2013 fo
FOX Business
Dec 24, 2012 9:20am EST
if we go over the fiscal cliff? >> well, you know, it's -- you're going to see a sell off because it's going to be a hit on earnings. you always have to look at the news stories and does that affect forecasted earnings or interest rates? and this does all of that so this will be a negative on the stock market. forecasts are anywhere from a 10 to 15% drop in the stock market based on earnings expectations and hit to earnings. this will be devastating to the economy, to the stock market and it needs to be, it doesn't look like it's going to happen, david. it looks like we're going to get a little bit of extension it it of the tax, the bush tax credits or the bush tax cuts and see unemployment benefits, you know, extended for about 2 million people. and as a result, we're going to see a lot of discussion and little results except higher taxes, that's for sure. >> and one thing that surprised me, we know that taxes will remain the same until the end of the year. we assume that taxes are going to go up after the first of the year. so, why aren't people cashing out right now if they have gains, cash out right now, collect your gains at the lower tax rates and buy b
FOX Business
Jan 1, 2013 6:00pm EST
breaking news in washington. we're waiting for the house of representatives to vote on a fiscal cliff deal that the senate passed early this morning. they have been in a conference meeting a little less than an hour. speaker boehner, majority leader eric cantor walking into that meeting. still waiting to hear how it is going. even before the meeting was called, cantor and other top republicans were saying they won't support the bill. the fate here is really uncertain. rich edson is live on capitol hill keeping track of this for us. rich, is there any word what specifically they're discussing in this meeting and whether or not they're making any progress? >> well, diane, the point here is whether or not to amend this bill, to change this bill or bring this bill, the proposal that passed the senate last evening up to the house floor to a vote. this is a decision that house republicans will have to make fairly soon here. they're getting pressure from a number of different folks, especially democrats who say, basically pressure them to hold a vote on it. >> we don't believe that compromis
FOX Business
Dec 28, 2012 1:00pm EST
hear somebody in washington say something about fiscal cliff, and then we'll move on that news, but traders are saying if we get a deal done, we'll see the market take off. we have not seen a santa claus rally this december, unfortunately, and, in fact, the nasdaq lower. stocks lower, by the way. here's the new york stock exchange, three stocks trading down for every one trading up. another thing trading up a the vix index. it's 20.18. the vix has traded below the two decade average, and that's not happened this month. we broke that trend. we have an uptick in the vix now. adam, back to you. adam: the question of the day, are we closing in on the deadline and potential plan to avert the fiscal cliff, about this afternoon's meeting between the leaders, and expectations between a deal are not running as high as they were back in november. remember this? >> i believe we can do this, avert the fiscal cliff that is right in front of us today. >> this is not something we are going to wait until the last day of december to get it done. adam. adam: proof words are cheap. it's the end of die
FOX Business
Dec 29, 2012 2:00am EST
new year. gerri: how would you describe today's closed-door fiscal cliff meeting between the president and congressional leaders? do you believe it was a political stun or real negotiation? la mancha gerriwillis.com, vote on the right-hand side of the screen, i will share the results of the end of the show. still ahead tonight, it's not just the fiscal cliff mess that congress has left undone. there is a whole lot of other work that our lawmakers should have done this year but did not. i will tell you all about it. and we will be right back i th, and i wished it would just go away. [rock music playing] it was my adhd. and like many kids with adhd, i didn't outgrow it. one of the issues i had was not being able to focus. i would read and i would reread the same sentence. you'd read it over and over and over again. and then, five minutes later, i wouldn't know what i just read. it wasn't sticking with me. it wasn't sinking in. and that, to me, was really frustrating. as i got older, i was still having that issue. and that's when i knew i needed to talk to the doctor. announcer:
FOX Business
Dec 28, 2012 6:00pm EST
. >> thank you. >> happy new year. gerri: how would you describe today's closed-door fiscal cliff meeting between the president and congressional leaders? do you believe it was a political stunt or real negotiation? la mancha gerriwillis.com, vote on the right-hand side of the screen, i will share the results of the end of the show. still ahead tonight, it's not just the fiscal cliff mess that congress has left undone. there is a whole lot of other work that our lawmakers should have done this year but did not. i will tell you all about it. and we will be right back gerri: president obama calling on congress to act to avoid the fiscal cliff. the president said he is optimistic. modestly optimistic, that is, that a deal can be done. here is the president. >> i still want to get this done. it's the right thing to do for our families and our businesses and for our entire economy. but for immediate action comedy hour is here. it is now. we are now at the point where in just four days, every american's tax rates are scheduled to go up by law. every american paycheck will get considerab
FOX Business
Dec 30, 2012 10:00pm EST
. >> happy new year. gerri: how would you describe today's closed-door fiscal cliff meeting between the president and congressional leaders? do you believe it was a political stunt or real negotiation? la mancha geiwillis.com, vote on the right-hand side of the screen, i will share the results of the end of the show. still ahead night, it's not just the fiscal cliff mess that congress has left undone. there is a whole lot of other work that our lawmakers should have done this year but did not. i will tell you all about it. and we will be right back the capital one cash rewards card gis you 1% cash back on all purchases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's the card for people who ke more cash. what's in your wallet? gerri: president obama calling on
FOX Business
Dec 24, 2012 1:00pm EST
a time in the picture? >> maybe the super bowl ads versus the fiscal cliff read lori: you make a great point, carry on. >> some point we will solve the fiscal cliff, kick the can down the road, have a grand bargain, no bargain, but it will be old news, not the current news. david: will be talking with the retail sector coming up, but we are getting a lot of mixed signals of what is happening this holiday season. what are you sensing? speak of the retail sector will perform well, just don't think it will exceed analyst or wall street expectations. i think everything that needed to be done in terms of consumer investment purchasing in the aftermath of sandy took place. on the other hand if you noticed that has not been a lot of promotions from the major retailers past the holiday weekend that kicked off. i believe retail will do reasonably well, the question is will it exceed last year's performance? lori: i know apple is one of the companies you are bullish on. where's the upside, where do you see the trajectory? >> i have three sons all in their 20s, and they are they'red to the apple ecosystem for years to come. i think apple is a play that will not be the sony people talk about. i think apple has a place in the public mind that will b
FOX Business
Dec 31, 2012 5:00pm EST
? >>> gop senators gathering a short time ago regarding the fiscal cliff. senator john barrasso joins us where things stand at this very moment. and whether a deal will get hammered through tonight in the senate. that is coming up. do you ever have too much money? ♪ . adam: all this talk about the fiscal cliff could make you forget there are other hot spots in the world so we're going to turn our attention to the middle east and some potentially troubling news from iran. officials there report a successful test after surface-to-air missile during military drills taking place near the strait of hormuz. the strait, which the iranians have threatened to close, is a crucial passageway for 20% of the world's oil. what could this mean here in the united states? with me now is michael rubin, resident scholar at the american enterprise institute and a happy new year to you, sir. what does it mean for the united states? does it up the ante or is this more bravado from the iranians? >> certainly, adam, we need to take iranian bravado seriously. they are sabre-rattling, when it comes to the milit
FOX Business
Dec 31, 2012 8:00pm EST
vote from the senate, we will go over the fiscal cliff. the u.s. economy will likely do a belly flop or the u.s. economy holding on for its your life depending on the fiscal cliff outcome. rich edson on capitol hill with the latest on if there will be a vote and the vice president getting involved once again. what is the latest? >> he will arrive sometime this evening because there are a number of senate democrats have issue with the framework between vice president joe biden, the senator himself and senate minority leader mitch mcconnell. the framework of that, the tax portion is a done deal exempting income of $400,000 for individuals, $450,000 for married couples, families from a tax increase. it also puts the capital gains tax keeping it consistent to me to those rates for income above that capital gains tax goes to 20%. presley patches the minimum tax ensuring live we as americans dt have to pay the estate tax goes to 40% on all mounts of $5 million a one-year extension of long-term unemployment benefits as part of this. also what is known as the medicare doctors getting a pay c
FOX Business
Dec 27, 2012 5:00pm EST
trading session. fiscal cliff woes helped fuel that decline. it settled at $90.897 a barrel. we'll turn our attention to international issues. iran offers terms to allow new inspections of its nuclear program. is it just a ploy or a sign the regime is finally breaking under the weight of western sanctions? we have details coming up on that issue. >>> plus a new auto insurer, plus a u-turn for the entire industry with big potential rewards for a lot of drivers. we'll put you in the driver's seat coming up. do you ever have too much money? want to know what i did in the last five hours? i played a round of golf. then i read a book while teaching myself how to play guitar; ran ten miles while knititting myself a sweater; jumped out of a plane. finally, i became a ping pong master while recording my debut album. how you ask? with 5-hour energy. i get hours of energy now -- no crash later. wait to see the next five hours. ♪ . adam: iran is detonating a nuclear rhetoric once again. the rogue state says it will allow iaea inspectors to access a military base suspected being a secret nuclear site but hold on a second. it is not without conditions. iran says they won't ente
FOX Business
Dec 31, 2012 4:00pm EST
us next liz: let's face it. we're down to the wire. just hours from falling off the fiscal cliff if no deal is reached. right now a deal does not seem likely. even if they came out said, hey, news flash, it is here. not enough time to vote on it. will u.s. economy fall back into recession? either way what is the smart money doing? where are they investing? joining me now, billionaire investor wilbur ross. ceo and investor. >> you're welcome. >> will there be a deal of any kind and what does it really mean for the markets? >> what i'm worried about they make a deal but won't be a sensible deal. that it will kind of put some sort of a permanent cap as to the level at which the bush tax cuts are repealed, extend for some short period unemployment, extend a few other things and not really with the big issue. punt it over and mix it up with the debt ceiling talks which will be coming up sometime between now and around the end of february. liz: well, yeah. timothy geithner, treasury secretary, warning that we will hit the debt limit today. obviously that is a big issue. is that a bigger problem than the fiscal cliff expiration here? >> well, they're both tied to each other but i think what
FOX Business
Dec 31, 2012 3:00pm EST
anything for me, but we'll wait and see. >>> the fiscal cliff talks, how are traders reacting? joining us now on the floor of the new york stock exchange, keith bliss and 116 points. now, listen, the high of the session we were up 157 for the dow jones industrials. tell me about the feel on the floor here. >> well, the feel on the floor is we're actually looking forward to getting 2012 out of the way. [laughter] it's been a tough year all the way around, it's been a very unpredictable year, and it's been a tough one to trade. today, you're absolutely right, it's been all about what they're talking about down in washington, watching the machinations between the president and the congress is what's been driving this market, and you see that here again today. you always keep your powder dry, you always buy on the dips, and that's precisely what we've got going on. liz: keith pronounced machinations correctly. [laughter] >> that's right. liz: keith, we're waiting to see what happens on the fiscal cliff, but in the aggregate for 2012, up the russell 2000 up 12 percentage points, the s&p up 31, -- s&p up 11. but it's europe, e
FOX Business
Dec 24, 2012 10:00am EST
seconds with the fiscal cliff coming, is a carbon tax also on the way? you thought it was gone, not so. that's next. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. >> well, we've already talked a lot the about it this morning. president obama can't raise enough money through his tax plans to cover all the spending. that means he could resume other ways for the revenue to come in. will a carbon tax be among them? joining us now from the american action forum, sam, we know the president wants this thing. he tried desperately, even with democrats holding both houses of congress, however, he couldn't get it. will he try to pursue it in his first year of the second term? >> well, there's certainly a lot of revenue out there. a lot of
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